Northwest Indiana Lighthouse Charter Schools
Minutes
Special July Meeting
Date and Time
Tuesday July 22, 2025 at 4:00 PM
Location
{HOLD} Special Board Meeting
Tuesday, July 22 · 4:00 – 5:30pm
Time zone: America/Chicago
Google Meet joining info
Video call link: https://meet.google.com/kwk-obsv-wob
Or dial: (US) +1 601-963-2036 PIN: 824 248 180#
Directors Present
A. Briggs (remote), A. Brown Thirston (remote), A. Nicholson (remote), E. Little (remote), J. GEORGE (remote), J. Parks (remote), S. Caruthers (remote)
Directors Absent
None
Guests Present
Alex Meuller- (remote), D. Jones (remote), D. Sevier (remote), Evelyn Dalton (remote), J. Beasley (remote), L. Franklin (remote), S. Breitenbach (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
II. NWILCS Bond Refinance
A.
Discussion of Options
B.
Decision on Next Steps
David S. offered the district positions as follows:
The district is recommending that we move forward with the proposed bond agreement with 5/3 Bank. Through this option, the parameters are: the 20-year option, which would allow us to save more money from the reduced debt payment. The goal is to save the potential $3M additional as a split between future infrastructure and saving to reduce the debt. In addition, our hope would be to refinance after five years and put us in a 15-year to alleviate a balloon payment overall.
| Roll Call | |
|---|---|
| A. Briggs |
Aye
|
| S. Caruthers |
Aye
|
| A. Brown Thirston |
Aye
|
| E. Little |
Aye
|
| A. Nicholson |
Aye
|
| J. GEORGE |
Aye
|
| J. Parks |
Aye
|
Jessica Beasley, David Jones and Alex Mueller spoke about the current proposal from 5/3rd Bank.
A full discussion was held regarding the proposal with several questions asked by the board.
See attached documents.
Attorney Jones reminded that a favorable vote to move forward would warrant a need for a resolution.
Alex Meuller advised that, at the time of the meeting, there were no new bond proposals. The proposals will be submitted on 8/17. The approvals to occur in September/October. The banks will let us know.
The board and the district expressed being in favor of moving forward with the proposal from the 5/3rd bank.